SolGold (LON:SOLG) Stock Price Up 14% - Here's What Happened

Key Points

• SolGold Plc's stock surged 14% in mid-day trading, reaching a high of GBX 13.54 ($0.18) after trading 38,991,313 shares, significantly up from the average daily volume.
• The company reported a debt-to-equity ratio of 78.66 and a market capitalization of £483.05 million, with a PE ratio of -7.88.
• Insider trading activity includes Paul Smith purchasing 9,587 shares at an average price of GBX 10 ($0.13), indicating strong insider confidence as they own 52.84% of the stock.

SolGold Plc (LON:SOLG - Get Free Report) shot up 14% on Monday . The stock traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). 38,991,313 shares were traded during mid-day trading, an increase of 588% from the average session volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Price Performance

The company has a market capitalization of £506.15 million, a P/E ratio of -8.26 and a beta of 1.20. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66. The business has a 50 day simple moving average of GBX 7.87 and a 200-day simple moving average of GBX 7.27.

Insiders Place Their Bets

In other SolGold news, insider Paul Smith purchased 9,587 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,289.27). In the last 90 days, insiders have bought 185,842 shares of company stock valued at $1,858,420. Company insiders own 52.84% of the company's stock.

SolGold Company Profile

SolGold is a leading exploration company focussed on the discovery, definition and development of world-class copper-gold deposits. SolGold has a first mover advantage in Ecuador, a highly prospective yet under-explored section of the Andean Copper Belt, home of multiple Tier 1 copper and gold projects and half of the world's copper resources.